The Swedish Financial Supervisory Authority has published a new compilation showing that the average rate on new and renegotiated variable-rate mortgages rose in the first quarter of 2026, while differences between lenders remained material. In March, the average variable rate at the eight largest mortgage banks was 2.62 percent, and the gap between the highest and lowest average rate was 0.26 percentage points. For a SEK 2 million mortgage, that March gap corresponds to just over SEK 5,000 a year in interest costs. In January, the spread had been wider at 0.58 percentage points, equivalent to just over SEK 11,000 a year on the same loan amount. The compilation also shows a shift in borrower preferences, with the share of mortgage customers on fixed rates rising from 17.5 percent in February to 33 percent in March. FI noted that average rates reflect what customers actually received and can therefore serve as a better benchmark than advertised rates when comparing banks or negotiating mortgage terms.
Finansinspektionen 2026-05-08
Swedish Financial Supervisory Authority publishes mortgage rate data showing average variable rate reached 2.62 percent in March and bank spread was 0.26 percentage points
The Swedish Financial Supervisory Authority reported that average rates on new and renegotiated variable-rate mortgages rose in the first quarter of 2026, with significant differences between lenders. In March, the average variable rate at the eight largest mortgage banks was 2.62 percent, and the 0.26 percentage point spread equated to just over SEK 5,000 a year on a SEK 2 million loan. The share of borrowers choosing fixed rates increased from 17.5 percent in February to 33 percent in March. The authority said average rates, reflecting actual customer outcomes, are a more reliable benchmark than advertised rates for comparing banks and negotiating mortgage terms.